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Common Stock | 12 Months Ended
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Dec. 31, 2024
Common Stock [Abstract] |
COMMON STOCK | 20. COMMON STOCK Securities Purchase Agreement On December 24, 2020, the Company entered into a securities purchase agreement with certain purchasers, pursuant to which the Company sold to the purchasers in a registered direct offering, an aggregate of 4,210,530 units, each consisting of one share of our common stock and a warrant to purchase 1 share of our Common Stock, at a purchase price of $1.90 per unit, for aggregate gross proceeds to the Company of $8,000,007, before deducting fees to the placement agent and other offering expenses payable by the Company. On December 29, 2020, the Company issued Units consisting of an aggregate of 4,210,530 shares of our Common Stock and warrants to purchase up to an aggregate of 4,210,530 shares of our Common Stock at an exercise price of $2.15 per share (the “Investors’ Warrants”). The Investors’ Warrants have a term of five years and are exercisable by the holder at any time after the date of issuance. In connection with the offering, the Company also issued placement agent a warrant to purchase 210,526 shares of our Common Stock (the “Placement Agent Warrant”) on substantially the same terms as the Investors’ Warrants, except that the Placement Agent Warrant has an exercise price of $2.375 per share and are not exercisable until June 24, 2021. December 31, 2023 and 2024, outstanding warrant has 210,526 shares of our Common Stock. Warrants after 1-Furu-5 reverse stock split was 42,108 shares.
|  | Underlying Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Term (Years) |
Options outstanding at December 31, 2023 |  |  | 42,108 |  |  | $ | 2.375 |  |  |  | 1.00 |
Granted |  |  | - |  |  |  | - |  |  |  | - |
Forfeited |  |  | - |  |  |  | - |  |  |  | - |
Cancelled |  |  | - |  |  |  | - |  |  |  | - |
Options outstanding at December 31, 2024 |  |  | 42,108 |  |  | $ | 2.375 |  |  |  | 1.00 |
Options exercisable at December 31, 2024 |  |  | 42,108 |  |  | $ | 2.375 |  |  |  | 1.00 |
On August 6, 2021, the Company, through its wholly owned subsidiary Future FinTech (Hong Kong) Limited., completed its acquisition of 90% of the issued and outstanding shares of Nice Talent Asset Management Limited from Joy Rich Enterprises Limited (the “Nice Shares”) for HK$144,000,000 (the “Purchase Price”) which shall be paid in the shares of common stock of the Company (the “Company Shares”). 60% of the purchase price ($11.22 million) was paid in 2,244,156 shares of common stock of the Company on August 4, 2021, at a price of $5 per share. 40% of the Purchase Price ($7.39 million) was paid in 299,221 shares of common stock of the Company on October 17, 2023. On January 5, 2024, the Company entered into a securities purchase agreement with certain purchasers identified on the signature page thereto, pursuant to which the Company sold to the purchasers in a private placement, an aggregate of 2,150,536 share of its common stock, par value $0.001 per share at a purchase price of $1.20 per share, for aggregate net proceeds to the Company of $2,580,644. On January 18, 2024, the Company issued 2,150,536 shares of common stock pursuant to this Agreement. Common stocks issued in connection with the convertible notes On December 27, 2023, the Company entered into a Securities Purchase Agreement with Streeterville Capital, LLC, a Utah limited liability company (the “Lender”), pursuant to which the Company sold and issued to the Lender a Convertible Promissory Note (the “Note”) in the principal amount of $1,100,000. On July 3, 2024, that Lender elects to redeem a portion of the Note in redemption conversion shares. Lender redemption conversion shares 136,649, amount $50,000, at a price of $0.3659 per share. On July 18, 2024, that Lender elects to redeem a portion of the Note in redemption conversion shares. Lender redemption conversion shares 217,139, amount $75,000, at a price of $0.3454 per share. On August 26, 2024, that Lender elects to redeem a portion of the Note in redemption conversion shares. Lender redemption conversion shares 408,329, amount $100,000, at a price of $0.2449 per share. On October 24, 2024, that Lender elects to redeem a portion of the Note in redemption conversion shares. Lender redemption conversion shares 390,625, amount $100,000, at a price of $0.256 per share. On November 11, 2024, that Lender elects to redeem a portion of the Note in redemption conversion shares. Lender redemption conversion shares 390,625, amount $100,000, at a price of $0.256 per share. On November 14, 2024, that Lender elects to redeem a portion of the Note in redemption conversion shares. Lender redemption conversion shares 393,855, amount $100,000, at a price of $0.2539 per share. On December 18, 2024, that Lender elects to redeem a portion of the Note in redemption conversion shares. Lender redemption conversion shares 438,212, amount $100,000, at a price of $0.2282 per share. The share numbers in this Note 22 are pre-reverse stock split effected on February 1, 2023.

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